Faye Holland, founding father of the #21toWatch awards
CoFinitive
Again within the mists of time, it was referred to as “the Cambridge phenomenon” – a connection with the emergence of the college town as a globally vital hub for science and technology-driven companies, a clustering procedure that started within the Nineteen Seventies. Nowadays, we’re much more likely to listen to concerning the U.Okay. phenomenon, however the truth stays that Cambridge – a relatively small town – is house to a staggering collection of know-how companies.
In line with Cambridge Cluster Insights, science firms operating within the house have a blended turnover of $17.9 billion and make use of over 69,000 other folks. Lots of them are startups.
However right here’s the item, Although you get started a trade in a longtime hub, it received’t essentially be simple to lift finance and to find consumers. Certainly, in the event you’re in a location that performs host to 1000 plus startups and scaleups, it could in truth be tougher to connect to the proper other folks on the proper time. There is simply too a lot pageant for consideration.
So, you could need to take steps to place your self at the radar displays of financiers, mentors and consumers.
Elevating Profiles
Elevating the profile of cutting edge firms within the Cambridge house – and around the East of England extra broadly – has develop into one thing of a project for communications skilled, Faye Holland. In 2018, she based the #21toWatch awards to spotlight the paintings of (normally) lesser-known firms operating within the house. Closing week, the 2022 winners have been introduced
So once I spoke to Holland I used to be willing to determine extra concerning the awards and what they are saying concerning the Cambridge and East of England innovation economic system panorama.
Holland’s day activity is PR. Having labored for quite a few know-how firms – together with IBM – she shaped her personal company Cofinitive with the purpose of serving to Cambridgeshire firms to construct their profile on an international level. #21toWatch is an extension of that paintings however it’s open to all related companies. no longer simply Cofinitive shoppers. This yr 235 firms implemented and 108 made it onto the lengthy checklist. This used to be whittled right down to a 37 robust shortlist from which the winners have been selected.
“We do our personal analysis,” says Holland. “If other folks nominate themselves, we take a look at them out. We take a look at the financials and we ask, is it groundbreaking. Which firms are truly those to look at.” The scoring is in accordance with quite a few standards, together with authentic innovation, the facility to handle an actual problem and viability.
Publicity To The Ecosystem
All nicely and excellent, however what does it ship for the startups participating. Holland says the advantages transcend the general checklist of winners. “Being at the longlist has helped other folks get in entrance of traders and consumers,” she says. Tiny entrepreneurial firms get publicity. In addition they get connections to the ecosystem.”
To this point, #21toWatch has showcased about 1,000 firms and of those that featured within the best 21 slots, 47 % have received investment. Correlation isn’t causation, in fact, however the determine suggests {that a} truthful share of winners have business legs.
The winners too can be expecting subject material advantages. Judges and companions can be offering advantages in sort, akin to place of work area or unfastened banking.
However do the awards truly have some degree? As Holland herself issues out, numerous eyes are at the Cambridge cluster. It’s been rising in significance because the established order of the Cambridge Science Park within the 70s and nowadays it has a sizeable group of native VCs and angels, subsidized up via mentors and building professionals. “It’s a buoyant house for funding,” says Holland. “And it is usually plugged into the worldwide level.
The problem dealing with newly-minted firms is to plug into the ecosystem. “Buyers know among the firms working in Cambridge however they don’t know they all. We act as a connector,” she says.
And in all probability additionally a bellwether of types. The awards are sector agnostic, however this yr, there was a definite development against clinical innovation and sustainability. Now not strangely, those are spaces of entrepreneurial job that regularly rely on arduous science and know-how base round Cambridge, however in addition they talk to the worries of a length ruled via Covid and local weather exchange. To take only some examples, winners this yr incorporated a robotic mind evolved via Antobot, a needle-free injection machine from DIOsynVax and a know-how the use of flies to do away with meals waste, created via Agrigrub. One after the other – and a couple of days after the awards, DIOSynvax introduced a partnership with CEPI (The Coalition for Epidemic Preparedness Innovation) to paintings on new Corona Virus vaccines.
Let’s face it, participating in awards takes a definite period of time and for some, it’s going to be a irritating procedure – no person loves to lose – however they do provide an opportunity to connect to a larger group. Even in well-established hubs like Cambridge, that may be vital.
